In addition to the mortgage of the ship as a security in shipping finance, charterparty has increasingly developed its role as one of the important securities which the creditor will commonly take it as a supplemental security to secure the sum of loan granted to the shipowner. The charterparty is considered as a major source of income of the shipowner which will generate the cash flow to sustain the business. The law governing the assignment of charterparty as a security varies from country to country therefore the perfection or requirement in order to acquire the legal protection and the rights given to the assignee are subsequently different. The choice of law to govern the assignment of charterparty may create a difficulty when the enforcement is brought to a court of the country other than the country of governing law. This thesis illustrates the different of the law governing the assignment of charterparty by giving the comparison between Norwegian and English laws. Moreover, the thesis points out the possibility of the application of a foreign law as well as suggest a possible guideline in order to avoid the unexpected difficulty through the attempts of the international organizations.